Well, when you can just type CMD-z to undo the autocorrect that creates
the hyperlink, I personally wouldn't consider it worth my time and
energy to be *eternally* annoyed. And it wasn't always on option in
WinXL, either, so there's always hope that MacXL2008 will have the
option.
However, there's a fairly easy way to use an event macro to do it
automatically. See